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    Home > Finance > UK's Sainsbury's sells travel money business to Fexco
    Finance

    UK's Sainsbury's sells travel money business to Fexco

    Published by Global Banking & Finance Review®

    Posted on July 30, 2025

    2 min read

    Last updated: January 22, 2026

    UK's Sainsbury's sells travel money business to Fexco - Finance news and analysis from Global Banking & Finance Review
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    Tags:customersinsuranceforeign currencyfinancial servicesretail banking

    Quick Summary

    Sainsbury's sells its travel money business to Fexco, marking a strategic shift towards retail. Fexco will continue services under Sainsbury's brand.

    Table of Contents

    • Sainsbury's Strategic Shift in Banking Services
    • Details of the Fexco Deal
    • Recent Financial Performance

    UK's Sainsbury's sells travel money business to Fexco

    Sainsbury's Strategic Shift in Banking Services

    LONDON (Reuters) -British supermarket group Sainsbury's has agreed to sell Sainsbury's Bank's travel money business to Fexco Group, it said on Wednesday, continuing its withdrawal from banking services.

    Details of the Fexco Deal

    Sainsbury's strategy under CEO Simon Roberts is to focus on growing its core retail operation.

    Recent Financial Performance

    The travel money business operates online and through 220 bureaux inside Sainsbury's stores. It has about 10% of the UK market.

    Sainsbury's said Fexco will provide foreign exchange services under the Sainsbury’s brand with Sainsbury's receiving an ongoing share of revenue and rental income. No financial details were disclosed.

    The deal follows last year's sale of Sainsbury’s Bank’s personal loan, credit card and retail deposit portfolios to NatWest Group, the disposal of its cash machines business to NoteMachine and the sale of the Argos Financial Services cards portfolio to NewDay Group.

    The supermarket group said Sainsbury’s Bank has also struck a deal for Allianz UK to offer replacement car and home insurance policies to existing Sainsbury's Bank customers.

    Earlier this month, Sainsbury's, Britain's second largest grocer after Tesco, reported better-than-expected first quarter sales. Its shares are up 11% so far this year.

    (Reporting by James Davey; editing by Sarah Young, Kirsten Donovan)

    Key Takeaways

    • •Sainsbury's sells travel money business to Fexco.
    • •Focus shifts to core retail operations under CEO Simon Roberts.
    • •Fexco to provide foreign exchange services under Sainsbury's brand.
    • •Sainsbury's retains a share of revenue and rental income.
    • •Part of a broader strategy to exit banking services.

    Frequently Asked Questions about UK's Sainsbury's sells travel money business to Fexco

    1Who is acquiring Sainsbury's travel money business?

    Fexco Group is acquiring Sainsbury's travel money business.

    2What percentage of the UK market does Sainsbury's travel money business hold?

    Sainsbury's travel money business holds about 10% of the UK market.

    3What will happen to Sainsbury's Bank customers after the sale?

    Sainsbury’s Bank has struck a deal for Allianz UK to offer replacement car and home insurance policies to existing customers.

    4What is Sainsbury's strategy under CEO Simon Roberts?

    Sainsbury's strategy under CEO Simon Roberts is to focus on growing its core retail operation.

    5What other banking services has Sainsbury's sold recently?

    Sainsbury's has sold its personal loan, credit card, and retail deposit portfolios to NatWest Group, as well as its cash machines business to NoteMachine.

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